Duplex with Upstairs Occupied
For Sale
$104,000
859 PARK Avenue, Meadville, PA 16335
MULTI_FAMILY - Other - Meadville, PA
Property Size1,216 SF
Lot Size0.05 Acres
Price / SF$85.53
Days on Market178
Property Features for 859 PARK Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1
Parking
4
Elementary school district
Crawford Central
Middle school district
Crawford Central
High school district
Crawford Central
Directions
Heading North on Park Ave, property on right before Walnut St.
Subdivision
19 - Meadville City
Standard status
Active
APN
3300-014-J-13
Size
1,216 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1424
Expense value
2000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Floors in Building
2
Number of units
2
Building materials
Mixed
Roof type
Metal
Architectural style
Other
Listing Agency:
Howard Hanna BK Conneaut Lake
(814) 382-5225
Listed By:
Cori Harmon · License #RS322267
(814) 720-2345
Added: Feb 17
Changed: Aug 3
Last Checked: Aug 14 at 2:06PM
MLS# 189654
Copyright © 2026 Greater Erie Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex offers an upstairs occupied unit and the potential for additional use downstairs, including either another residential unit or space for a business. The property includes off-street parking and is supported by public water and public sewer service.
Heating is provided by natural gas forced-air, with wall unit cooling. The structure is finished with mixed construction materials and a metal roof. The property is situated on a 0.0514-acre lot in Meadville, in a high-traffic area.
The layout includes bedrooms and two bathrooms, with Room information listed as Bathroom 1, Bathroom 2, and Bedroom 1. For buyers and tenants, the combination of an occupied unit and flexible downstairs possibilities can support a variety of occupancy and operating approaches, depending on how the downstairs space is utilized.
Heating is provided by natural gas forced-air, with wall unit cooling. The structure is finished with mixed construction materials and a metal roof. The property is situated on a 0.0514-acre lot in Meadville, in a high-traffic area.
The layout includes bedrooms and two bathrooms, with Room information listed as Bathroom 1, Bathroom 2, and Bedroom 1. For buyers and tenants, the combination of an occupied unit and flexible downstairs possibilities can support a variety of occupancy and operating approaches, depending on how the downstairs space is utilized.
Key Highlights
- Upstairs unit is occupied; downstairs offers potential for another residential unit or a business
- 0.0514‑acre lot with off‑street parking
- Natural gas forced‑air heat and wall unit(s) cooling
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,329
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$186,580
$186.6K
Cap Rate 7%
$133,271
$133.3K
Cap Rate 9%
$103,656
$103.7K
Market Conditions
NOI Build-Up for 1,216 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$17.9K $14.76/SF
− Vacancy
−$987 −$0.81/SF
EGI
$17.0K $13.95/SF
− OpEx
−$7.6K −$6.28/SF
NOI
$9.3K $7.67/SF
Area
Crawford County, PA
Vacancy
5.50%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$186,580
Cap Rate 7%
$133,271
Cap Rate 9%
$103,656
Alternative Uses
Best Use
Multifamily LT 5
$145.2K
$127.1K – $169.4K
NOI $10,165 @ 7.0% cap · market cap 9.77%
Second Best
Apartment 5plus
$133.3K
$116.6K – $155.5K
NOI $9,329 @ 7.0% cap · market cap 8.97%
Theoretical Best
Office A
$301.7K
$264.0K – $352.0K
NOI $21,118 @ 7.0% cap · market cap 20.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,525
Businesses Nearby
Explore this area
Business Placement
Demographics for 16335, PA
27,452
Population
12,547
Households
2.2
Avg Household Size
43
Median Age
26%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
240
Density / Sq Mi
$58,531
Median Household Income
$32,692
Median Earnings
$892
Median Rent
$149,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex on a small lot with public water and sewer, natural gas forced-air heat, and metal roof.
Where is this duplex located?
The property is located at 859 PARK Avenue Meadville, PA.
What is the asking price?
The asking price for this property is $104,000.
What are key features of this property?
This property features: Upstairs unit is occupied; downstairs offers potential for another residential unit or a business; 0.0514‑acre lot with off‑street parking; Natural gas forced‑air heat and wall unit(s) cooling
